This is a Ph.D. dissertation. The electricity sector worldwide is undergoing
a fundamental transformation of its institutional structure as a consequence
of the complex interactions of political, economic and technological forces.
The way the industry is organized is changing from vertically integrated monopolies
to unbundled structures that favor market mechanisms.

This process in Europe, known as the liberalization process, has had a wide
impact on the European electricity industry. The focus of this dissertation
is an analysis of the role of electricity markets of Europe. In the context
of creating "a" competitive electricity market at a European level, the key
questions considered are the functioning of these power exchanges with respect
to electricity characteristics, market design and regulatory framework.